Arbitration

[bailey916]

My boyfriend and I are contemplating arbitration due to a dispute over earnest money with a builder. If we proceed to arbitration and initiate this process, is the builder then able, or more inclined, to retaliate and get us for liquidated damages (though they have not made mention of this matter...yet)? Furthermore, the house that we were not able to purchase is now on the market for much less than we originally bought it for. Does this play a role as far as liquidated damages are concerned...even though the foundation had not been poured at the time we went out of contract? Thank you in advance.

[seniorjudge]

Originally Posted by bailey916

My boyfriend and I are contemplating arbitration due to a dispute over earnest money with a builder. If we proceed to arbitration and initiate this process, is the builder then able, or more inclined, to retaliate and get us for liquidated damages (though they have not made mention of this matter...yet)? Furthermore, the house that we were not able to purchase is now on the market for much less than we originally bought it for. Does this play a role as far as liquidated damages are concerned...even though the foundation had not been poured at the time we went out of contract? Thank you in advance.

Q: If we proceed to arbitration and initiate this process, is the builder then able, or more inclined, to retaliate and get us for liquidated damages (though they have not made mention of this matter...yet)?

A: There is a 50-50 chance, more or less.

[HomeGuru]

Writer, you did not state the reason you defaulted on the contract.